Contrarian trade MA
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Contrarian trade MA
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
The Expert Advisor uses iMA (Moving Average, MA) indicator and W1 timeframe. A timeframe can also be set separately via the
MA and OHLC: timeframe
parameter. The
Number of bars among which search is Highest and Lowest
interval searches for highs and lows. Position size (
Lots
) and stop loss (
Stop Loss
) are set as well.
The EA opens only one position at a time, therefore it is able to work both on hedging and netting accounts.
Trading signals
max - maximum found value of High prices
min - minimum found value of Low prices
rates[1].close - Close price on bar #1
rates[0].open - Open price on bar #1
ma[1] - Moving Average indicator value on bar #1
